The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 89.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,368 shares of the bank’s stock after selling 62,919 shares during the period. Hsbc Holdings PLC’s holdings in Bancorp were worth $277,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Bancorp by 60.5% in the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after buying an additional 291 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Bancorp by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank’s stock worth $2,251,000 after purchasing an additional 302 shares in the last quarter. Legend Financial Advisors Inc. boosted its position in Bancorp by 2.1% in the 2nd quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank’s stock worth $687,000 after purchasing an additional 380 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Bancorp by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,574 shares of the bank’s stock worth $815,000 after purchasing an additional 476 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Bancorp by 1.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 30,632 shares of the bank’s stock valued at $1,157,000 after purchasing an additional 492 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TBBK. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Piper Sandler upped their price objective on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th.

Bancorp Trading Up 2.1 %

NASDAQ TBBK opened at $52.23 on Friday. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $54.97. The firm’s 50-day moving average is $49.99 and its two-hundred day moving average is $40.31. The stock has a market capitalization of $2.56 billion, a P/E ratio of 13.95 and a beta of 1.45. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.84.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 25th. The bank reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.03). The firm had revenue of $124.52 million for the quarter, compared to analyst estimates of $127.45 million. Bancorp had a return on equity of 26.81% and a net margin of 31.52%. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 4.42 earnings per share for the current year.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.